The Tata group has grown its brand value by 12 per cent to $24 billion, maintaining its dominant position to be the most valuable brand in the country, said a report by brand valuation consultancy Brand Finance. The report said the Tata Group strengthened its strategic business and leadership initiatives with brand building activities across the globe. It puts together India’s top 100 most valuable and strong brands in its annual Brand Finance India 100 ranking.
Infosys is the second most valuable Indian brand with a jump of 52 per cent. The report said the Infosys brand saw significant growth during the pandemic, with its brand value increasing by less than $7.1 billion, which is 80 percent more than its current value.
Further, while LIC saw a drop in the rankings and secured the third position in the rankings this year, the brand saw a 28 per cent increase in brand value to $11.1 billion. Reliance retained its fourth position with a brand value of $8.6 billion, up 5 per cent.
According to leading brand valuation consultancy Brand Finance, the brand value of Taj Hotels has increased by 6 per cent to $314 million and is now the strongest brand in the ranking with a Brand Strength Index (BSI) score of 88.9 out of 100. ,
The pandemic and the subsequent national lockdown hit the hospitality sector the most and brands had to re-invent their strategies to remain relevant to the need of tourists.
“The hospitality industry is improving as five-star commercial hotels in metros across the country have seen occupancy ranging from 75 per cent to 80 per cent in the past one month,” the report said.
Brands in banking saw a 16 per cent increase in brand value, IT services brands saw a 15 per cent increase in value and 7 per cent increase in telecom brands in India and achieved higher brand value as the economy was impacted by covid recovering from -19.
The year 2022 is a turning point for the Indian IT services industry – the industry has crossed $200 billion in total revenue and $5 million in total workforce. TCS’ brand value grew 12 per cent to $16.7 billion. Other IT firms such as Accenture, Wipro, HCL and Tech Mahindra saw their brand value increase by 39 per cent, 48 per cent, 10 per cent and 30 per cent respectively. The brand values of Accenture, Wipro, HCL and Tech Mahindra are currently $36.2 billion, $6.4 billion, $6.1 billion and $3 billion, respectively.
Indian Telecom Industry is making its mark globally. India is the second largest telecom market in the world with a subscriber base of 1.16 billion users. Airtel is the No. 1 telecom sector in India with a brand value of $7.7 billion and an impressive 28 percent growth in brand value. In second place, Jio, whose brand value rose 5 percent to $5.1 billion, shows gains in growth, followed by VI, a brand value of $767 million, which remains resilient despite its many business challenges.
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